Let’s take a look at WYNN, Wynn Resorts. Obviously, if you’ve been following the news. Not really concerning myself with the news, the news is the news, we’re trading the price action. The price action broke below both the turning and the standard line which usually means it’s going to drop to about the top or the bottom of the cloud and in essence may be followed up with some more bad news…so keep your ear to the ground there.
But after this bad day here you would think ‘’hey maybe we’re going to get a bounce, nope big gap down…and cruise lower.’’ So how do you deal with that? Now, you know it’s going lower than I throw it on another timeframe.
Another string is in here. A 10-minute is my default go to platform on an Intraday chart so you can see here first thing. There were some buys and some sells that was green so I had to avoid that timeframe. And then here we go. There we go, 10 minutes.
So there’s the day before, here’s today. Gap down. Want to sell it but can’t get until I get boom, a sell signal right there. But if you sell it right there you still haven’t been trailed stopped out.
Now if you go sell, cover, sell then you still have an open cover. I like to go on the red sell dot and trail on the trailing green stop-loss.
We’re going to be doing a special webinar on ‘’The Simple Hedge Fund Strategy.” It’s going to happen on Wednesday, January 31st.
I will hyperlink you to the form.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
